These two companies have been lighting it up. They had a super December and they've generally been showing decent sales and earnings growth compared to other names in the specialty retail sector.
More Quotes from Ken Perkins:
Consumers really felt the pinch of higher gas prices and job growth is stagnant.Ken Perkins
One obvious explanation (for the weakness) is that investors are aware that Best Buy faces much tougher sales comparisons, particularly in the second half of the year. Looking at the numbers, second-quarter sales were up 7.8 percent, third-quarter sales rose 5.8 percent.
Ken Perkins
Fourth-quarter retail earnings are expected to grow 13.5 percent. That's below last year's growth and could come down further if we see plenty of promotions.
Ken Perkins
This is setting a foundation for earnings to rebound. There might be some positive news in the second quarter.
Ken Perkins
I wouldn't read this at all as a shift in consumer trends. Discounters are benefiting from a weak economy and they have been taking market share from department stores.
Ken Perkins
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